The Ibovespa added 1.3 percent to 47,993.42 at the close of
trading in Sao Paulo in its sixth consecutive advance. Fifty-three stocks gained while 20 fell. The real was little changed
at 2.3247 per dollar at 5:20 p.m. local time. The Standard &
Poor’s GSCI index of 24 raw materials climbed 0.1 percent,
bolstering the raw-materials producers that account for 33
percent of Ibovespa’s weighting.

“This has been a tough year for commodity prices and
producers, so this increase gives a little relief for Brazilian
exporters,” Fernando Goes, an analyst at brokerage firm Clear
Corretora, said in a phone interview from Sao Paulo. “The
market’s mood seems to have improved a little.”

Banks’ Rally

Banks are “a little oasis in the desert” of the Brazilian
economy, Marcelo Telles, an analyst at Credit Suisse, wrote in a
note to clients dated today. “Even in a more challenging
scenario for volumes resulting from lackluster economic growth,
private-sector banks should deliver good top line and earnings
per share growth.”

Meatpacker JBS SA climbed 2.6 percent to 7.87 reais. The
company is expected to report to report fourth-quarter results
today after the market close.

Anhanguera declined 1.1 percent to 12.29 reais. Veja
magazine reported that chances for the Kroton-Anhanguera merger
to succeed are shrinking after Brazil’s antitrust regulator
suggested that the companies sell some distance-learning schools
so that the deal can be approved.

Brazil’s benchmark equity gauge entered a bear market on
March 14 after falling 20 percent from its October high through
that day. The gauge has since pared the drop to 15 percent.

Trading volume of stocks in Sao Paulo was 5.7 billion reais
today, according to data compiled by Bloomberg. That compares
with a daily average of 6.36 billion reais this year, according
to data from the exchange.